Daily Market Update 2/2/12

Rates inched lower Thursday ahead of tomorrow’s Employment Report for January.  This morning, weekly Jobless Claims fell to 367,000, close to expectations.  Productivity rose by 0.7%.  Fed Chairman Ben Bernanke told members of the House Budget Committee that federal budget deficits are “unsustainable”, and that “increasing level of government debt relative to national income runs the risk of serious economic consequences”.  Really?  No other key data will be released today.

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